What if the world’s most valuable real-world assets, sovereign bonds, private credit, real estate, and more could be traded with the same ease and speed as digital currencies?
In 2025, that’s no longer a theory. Tokenized real-world assets (RWAs) are going mainstream, melding the stability of traditional finance with the efficiency and transparency of blockchain technology. From institutions and governments to startups and DAOs, the momentum to bring off-chain assets on-chain is gaining unstoppable force.
Below, we explore five key trends driving this RWA revolution, supported by recent data and notable examples.
1. Treasuries and Bonds Are Leading the Charge
Tokenized U.S. Treasuries have emerged as a dominant market segment, surpassing other RWAs in on-chain value.
As of mid-2025, more than $1.49 billion of U.S. Treasury assets had been tokenized on public blockchains, powered by institutional leaders like Franklin Templeton, Ondo Finance, and Backed Finance.
Franklin Templeton’s OnChain U.S. Government Money Fund (FOBXX) alone manages assets exceeding $380 million. Ondo Finance’s OUSG fund closely follows, offering crypto treasuries and DAOs a compliant and stable yield option directly accessible via wallets.
2. Tokenized Private Credit Goes Institutional
Traditionally opaque and illiquid, private credit is being transformed by tokenization into an accessible, transparent, and compliant asset class.
Platforms such as Maple Finance and Centrifuge enable businesses to borrow from decentralized liquidity pools backed by tokenized invoices, receivables, and real-world collateral. Maple Finance has issued over $500 million in loans to date, including institutional partnerships like BlockTower Capital.
Simultaneously, OpenTrade is building a compliant credit infrastructure by partnering with KYC-verified funds and custodians, enabling regulated credit strategies to operate on-chain.
This is not merely unlocking credit access; it’s a fundamental reinvention of the credit market’s infrastructure.
3. Real Estate is Becoming Liquid and Global
While fractional ownership of property isn’t new, tokenization is evolving to include global real estate funds, REITs, and income streams.
RealT has fractionalized over 400 U.S. properties, delivering rental income directly into investors’ wallets. Meanwhile, Landshare leverages Binance Smart Chain and DeFi mechanics to innovate within the space.
In Asia, InvestaX facilitates institutional real estate projects on its compliant RWA exchange, tokenizing assets ranging from commercial offices to luxury developments.
On-chain real estate investment is shedding geographic constraints—becoming liquid, global, and accessible.
4. Asset Management Enters the Blockchain Era
Tokenization is revolutionizing asset management by introducing real-time fund valuation, programmable compliance, and wallet-based distribution
Securitize collaborates with firms like Hamilton Lane to tokenize private equity portions, while BlackRock launched BUIDL, its own tokenized fund on Ethereum, signaling mainstream acceptance.
This new paradigm enables continuous 24/7 asset management on-chain, transforming traditional monthly reporting and settlement cycles into instantaneous processes.
5. RWA Tokenization Becomes Modular and Composable
The latest innovation lies not just in what assets are tokenized, but how they integrate into broader DeFi ecosystems.
Protocols like Superstate and RedStone Oracles build infrastructure allowing tokenized assets to plug into DeFi legos—yield-bearing treasuries can flow into MakerDAO or serve as collateral across Layer 2 networks.
This composability allows staking, lending, borrowing, and rehypothecation of RWAs with unprecedented flexibility, blurring lines between traditional finance and decentralized protocols.
Market Evolution: From Billions to Trillions
As of December 2024, the non-stablecoin tokenized RWA market grew approximately 85% year-over-year, reaching $15.2 billion. By June 2025, it surpassed $24 billion, marking roughly 380% growth since 2022, according to RedStone.
Including stablecoins, the total tokenized asset market has exceeded $217 billion.
Looking forward, McKinsey projects tokenized RWAs (excluding crypto and stablecoins) could reach $2 trillion by 2030, with optimistic scenarios as high as $4 trillion.
This transformation is measurable, accelerating, and fundamentally reshaping capital markets.
What Comes Next?
Tokenization is no longer a niche trend; it's a paradigm shift, laying the foundation for next-generation capital markets.
For crypto-native investors seeking yield-bearing government bonds or traditional asset managers craving transparency and automation, the on-chain economy is evolving from experimental to essential.
Embracing RWA tokenization today means positioning for the future of finance, where trustless, programmable, and borderless assets unlock new realms of opportunity.